Tuesday, 18 April 2017

OPENING BELL- 18th April, 2017 >> Market To Trade In Range In Absence Of Major Trigger, Support At 9120

Indian Benchmark Index Nifty closed in negative territory for the third consecutive day and closed at 9139 after making a low of 9120. The Index yesterday opened at 9145 and made a high of 9160. Immediate support for the Index is at 9109, below which next level is at 9080. Realty stocks rallied the most, India Bulls Real estate was up by 40.01% yesterday. HDIL was up by 8.69% and DLF was up by 8.11%.

Bank Nifty traded in a narrow range of 167 points from high of 21743 and low of 21577. Bank Nifty closed at 21647. DCB bank was down by 3.56% after reporting its Q4 results.

Smallcap Index has been continuously showing buying strength. Recently the index made low of 7034 and yesterday closed at 7164 and its all-time high is at 7196 made on 12th April 2017. Till index does not breach 7034 and sustains below this level buying in the market will remain intact in cash market.

Nifty Future is opening at 9157.00 as per SGX Nifty at 8:50 am IST, 9 points below its previous close of 9166.25.

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